Observation1 Jul 2018 23:13
I believe the price has been driven low because of goodof news to come very soon.
Its all in the Rn's..
The Icewine 3D seismic survey, approximately 450 km2 in area and covering several large leads identified on 2D seismic, was completed on the 28th March - on schedule and within budget. Infield quality control, overseen by head office, has ensured that the data acquired is as clean as possible to enable fast track processing. Processing of shipments of data from the initial areas of the acquisition has commenced and early products, namely post stack migration, will be available in June 2018. This will allow confirmatory mapping of the stratigraphic / structural elements of the leads already identified in the conventional prospectivity portfolio.
Subsequently, velocity analysis and regularization will occur, providing the isotropic Kirchoff pre stack time migration product. This product will be used to further analyse and confirm the highly encouraging amplitude vs offset (AVO) anomalies identified on the 2D seismic. These AVO responses are often associated with the presence of hydrocarbons and, significantly, have already been identified at horizons where both oil shows and good quality reservoir is observed in regional well data.
As background, the 3D acquisition was designed to mature conventional prospectivity previously reported, including several leads with AVO support, in the western portion of the Project Icewine leases. 88 Energy is extremely encouraged by recent conventional and historic analog discoveries delineated on 3D seismic to the north of the Company's acreage within the Brookian sequence.